More German chemical firms investing in U.S., VCI says

Low energy costs driven by shale gas are attracting more German chemical firm investments in the U.S., according to German chemical industry trade group VCI. Forty-one percent of foreign investments by Germany's chemical industry went to U.S. ventures in 2012, and $4.3 billion was spent on new chemical plants or expansions, VCI said. "Abroad, and particularly in the U.S., the firms obviously find better conditions for their production, helping them to preserve their competitiveness," said VCI General Manager Utz Tillmann.